Never again will fade the trend
Cable Update (GBPUSD)
- #273,403
- Mar 2, 2011 11:05am Mar 2, 2011 11:05am
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
So between now and Thursday morning when the Services PMI numbers are released at 09:30 (GMT), I see sideway action, probably between 1.6220-1.6350. When the numbers are released watch the price action to see where price is heading. The trend is up, but we are in overbought territory and we have hit weekly supply. Saying that the indicators can stay in overbought (or oversold) territory for a long time, especially on the higher timeframes! Targets for any longs would be 1.6450, but it does look like a bigger retrace is imminent.
Yup... still in the range!
I will re-assess the pair on Sunday open!
- #273,404
- Mar 2, 2011 11:14am Mar 2, 2011 11:14am
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
Stubbornly holding on to your shorts in a strong
updraft looks as silly as it is impractical.
Dr. D.
Alternatively, you wait for price to turn, see the confirmation and then jump in at the start of a new trend. It is all a matter of taste and I have rules as to when I take a trade with or without confirmation!
- #273,405
- Mar 2, 2011 11:18am Mar 2, 2011 11:18am
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
I suspect we are heading back to DP at 1.6281 before London Open. Don't get me wrong, this pair still looks very bullish, but with the Services PMI numbers out tomorrow morning and NFP on Friday, it is going to be one hell of a rollercoaster ride. I certainly won't be trading on Friday. I take a break from trading on NFP days... too much of a gamble!
I will re-assess the pair on Sunday open!
NFP maybe i will be here to see but gettin a position is very and non sense risky.
While before Services PMI i see Beige Book later.... and then all asia session
The 6340 line refused lot of pips n closed first h1 candle below 23% 6215-6342.
Usually after a move like today, if first candle closes above/below 23% fibo after the bottom/peak, means a lot of things (...)
Let's see what happens
90% of traders use TA, indicators and prediction
- #273,406
- Mar 2, 2011 11:53am Mar 2, 2011 11:53am
- | Joined Aug 2009 | Status: Save our Children's Save our Future | 1,124 Posts
I will be the number one Manager.
- #273,407
- Mar 2, 2011 12:34pm Mar 2, 2011 12:34pm
- Joined Dec 2009 | Status: The New Legend™ | 4,846 Posts
Did you BELIEVE in me, Now...
They want and called BUTTERFLY is "HOLY GRAIL" Indie.
If there are Dogs, Mice, Beetles, Bees and others... should be call 'ANIMAL' Indie
They want and called BUTTERFLY is "HOLY GRAIL" Indie.
If there are Dogs, Mice, Beetles, Bees and others... should be call 'ANIMAL' Indie
as I said in some previous posts each trader sees what he wants to see in his indies.
some use the butterflies some the ''cats'') and some the fibo
my charts were full of CATS ihihiih
im joking!
the butterfly does not work all the timesdon't follow only this indie.combine in with another analyse like RSI and stochs.
yesterday for example the charts were full of butterflies on all the TFS but still the price went up
but it's nice to have a piece of nature on the screens
Always looking the GREAT, never left GOOD Point...
- #273,408
- Edited 1:14pm Mar 2, 2011 12:57pm | Edited 1:14pm
- Joined Dec 2009 | Status: The New Legend™ | 4,846 Posts
Weekly CHART 'PURE Harmonic Pattern'
If I post like this, Only HARMONIC Traders (with Experience) can see SIGNAL this indies.
And another just see BULLISH GARTLEY ... but NOT Understand where TARGET and INFORMATION
If I post like this, Only HARMONIC Traders (with Experience) can see SIGNAL this indies.
And another just see BULLISH GARTLEY ... but NOT Understand where TARGET and INFORMATION
Always looking the GREAT, never left GOOD Point...
- #273,409
- Mar 2, 2011 1:23pm Mar 2, 2011 1:23pm
- Joined Apr 2010 | Status: Today is my first trading day! | 9,452 Posts
I have a feeling:
if on asia gbp usd will be down (looks like not at moment) tomorrow will fly
if on asia will print new high tomorrow will retrace n crash
if on asia slow n thin moves ........ i won't get positions till Service Pmi
there are thousands of pips on oil only thing to do is buy dips
if on asia gbp usd will be down (looks like not at moment) tomorrow will fly
if on asia will print new high tomorrow will retrace n crash
if on asia slow n thin moves ........ i won't get positions till Service Pmi
there are thousands of pips on oil only thing to do is buy dips
90% of traders use TA, indicators and prediction
- #273,410
- Mar 2, 2011 1:31pm Mar 2, 2011 1:31pm
- | Joined Apr 2009 | Status: temporarily correct | 1,757 Posts
Weekly CHART 'PURE Harmonic Pattern'
If I post like this, Only HARMONIC Traders (with Experience) can see SIGNAL this indies.
And another just see BULLISH GARTLEY ... but NOT Understand where TARGET and INFORMATION
No offense meant, I stacked 6 positions on that garltey, the earliest paying out 1320 pips.
Trouble with harmonics is....they have to be textbook-perfect for a decent success rate. Too many indi's paint harmonics all over everything, and that's a good way to lose money quick.
- #273,411
- Edited 2:11pm Mar 2, 2011 1:50pm | Edited 2:11pm
- Joined Dec 2009 | Status: The New Legend™ | 4,846 Posts
Doesn't do much good now 9 months after the fact.
No offense meant, I stacked 6 positions on that garltey, the earliest paying out 1320 pips.
Trouble with harmonics is....they have to be textbook-perfect for a decent success rate. Too many indi's paint harmonics all over everything, and that's a good way to lose money quick.
Agreed with you, sometimes I fail Read HARMONIC Pattern...
And I told them : Not ALL Indies PERFECT !!! Use HARMONIC Pattern Indie if Not Good Understand can be BOOMERANG.
Look Pattern like This, GU possible UP will touch Price @ 1.78xx or Price @ 1.80xx in FUTURE.
Best Regards,
Tsar
@ bbakker Bro,
This is my Evaluation only... Please, Don't Attack and call me CRAZY ya
Always looking the GREAT, never left GOOD Point...
As for the Cable situation, it is seen that in the last bullish movement has been formed three wave zig-zag. Also the price stopped at a very strong resistance level 1.6320-30. So, taking into account,that USDCHF is on its bullish turn over we may suppose the bearish wave to start just up to the moment!
On this picture I give a lay out of the waves. The first resistance the bearish movement faces in the nearest future is 1.6260-70,while going through this level we should wait the price down till 1.6190-1.6200
The alternative bullish prolongation seems to be very uneven.
So, let's have a look tomorrow!
Good luck in trading!
On this picture I give a lay out of the waves. The first resistance the bearish movement faces in the nearest future is 1.6260-70,while going through this level we should wait the price down till 1.6190-1.6200
The alternative bullish prolongation seems to be very uneven.
So, let's have a look tomorrow!
Good luck in trading!
- #273,414
- Mar 2, 2011 2:17pm Mar 2, 2011 2:17pm
- | Joined Apr 2009 | Status: temporarily correct | 1,757 Posts
- #273,416
- Edited 3:09pm Mar 2, 2011 2:59pm | Edited 3:09pm
- Joined Dec 2009 | Status: The New Legend™ | 4,846 Posts
Hey T-Sar,
I don't know how to project harmonic targets outside of the original pattern, instead I use the points of the pattern as targets.
Care to share?
NOT from Harmonic Pattern only.
Based on Combination of many Indicators like Fibonacci, Gann, Chart Pattern, ADR, Pivot Point, Support Resistance and others.
Always looking the GREAT, never left GOOD Point...
- #273,419
- Mar 2, 2011 9:57pm Mar 2, 2011 9:57pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
With 6250 toasted 6350 is up next on the block.
After that we are looking at 6500, 6800 and 1.7100
with some roadblocks here and there.!
After that we are looking at 6500, 6800 and 1.7100
with some roadblocks here and there.!
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
- #273,420
- Edited 10:23pm Mar 2, 2011 10:00pm | Edited 10:23pm
- Joined Aug 2009 | Status: Patience = Simplest of all skills | 7,152 Posts
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News